19 State AGs Subpoenas Six Big Banks Over ESG Collusion with UN

In early August, a coalition of 19 state attorneys general fired a warning shot across the bow of BlackRock (largest investment firm with $10 trillion in assets under management), telling the company its pressure on investors to divest from fossil energy companies based on so-called ESG (environmental, social, governance) criteria may, in fact, be illegal (see 19 State AGs Turn Up the Heat on Anti-Fossil Fuel BlackRock). That same coalition of 19 AGs is now turning their attention to six Big Banks, sending what is, in essence, a subpoena to the banks demanding information about their involvement and collusion with the United Nations' Net-Zero Banking Alliance (NZBA).

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